Geely, Megvii form new smart vehicle joint venture

Chongqing Qianli Zhijia Technology, a new company focused on smart vehicle technologies, has been established with a registered capital of 10.5 million yuan (approximately US$1.5 million). The venture is set to manufacture and sell intelligent in-vehicle equipment, develop AI hardware, and provide software and data processing services, signaling a continued push into the burgeoning smart mobility sector in China.

The company’s ownership structure highlights a strategic convergence between leading tech and automotive players. Key shareholders include Maichi Zhixing (迈驰智行), a subsidiary of Megvii, an AI company known for its facial recognition technology, and Jirun Automobile (吉润汽车), a subsidiary of Geely Holding Group, a global automotive company known for brands like Volvo and Lotus.

Other investors are Ningbo Lotus Robotics Co., Ltd., a self-driving technology unit of Lotus (also part of Geely Holding Group), and Chongqing Zhijiang Zhongwang Enterprise Management Consulting Partnership (重庆智江众旺企业管理咨询合伙企业).

🔗 Source: 36Kr

🧠 Food for thought

1️⃣ China’s tech-auto collaborations signal a strategic restructuring of the mobility ecosystem

The Ant Group-Geely partnership represents a broader trend of technology and automotive companies joining forces to create integrated smart vehicle solutions in China.

This follows similar collaborative patterns seen with other major players, such as Baidu’s partnership with Geely to integrate its DuerOS AI system into vehicles and create a robo-taxi initiative1.

Huawei has established itself as a central technology provider in China’s automotive sector through its “Auto Wintel” ecosystem, providing comprehensive smart vehicle solutions to numerous automakers2.

These cross-industry partnerships leverage complementary strengths, with tech companies contributing AI capabilities and user-centric software interfaces while traditional automakers provide manufacturing expertise and established distribution networks.

The collaboration between Ant Group’s fintech capabilities and Geely’s automotive experience suggests potential innovations in payment integration, driver identification, and personalized mobility services.

2️⃣ China’s policy framework creates fertile ground for smart vehicle innovation

The new joint venture emerges within China’s strategic national push to dominate next-generation vehicle technologies, supported by comprehensive government initiatives.

China has committed to building a $150 billion AI industry by 2030 through its New Generation Artificial Intelligence Development Plan, with smart vehicles identified as a priority sector3.

The country’s “Made in China 2025” initiative specifically aims to transform China into a manufacturing hub for advanced automobiles, focusing on connected and autonomous technologies4.

This supportive policy environment has helped position China to potentially lead in connected car and autonomous vehicle markets by 2025, driven by its large user base and government backing4.